Now that fall is on its way, many people are considering getting their old furnaces replaced before winter hits. If you’re concerned about the expense, there’s good news. If you live in Toronto there are a number of furnace rebates you can apply for to help offset the cost. And there’s more to save on than just furnaces…you can also save on hot water tanks, central air conditioners and even lighting.

With these rebates, you’ll be saving twice: on the purchase price, and on your energy costs going forward.

Before you buy anything, make sure you get the energy audit first. After your audit, you can purchase an energy-efficient furnace or hot water tank and one other item. In total you will need to achieve at least 25% in gas savings in order to get your rebate. This will need to be confirmed in the follow-up audit after the installation of your new equipment.

2. Ontario Power Authority’s Furnace Rebates: Up to $650

Novel Care has been helping homeowners claim up to $650 on high-efficiency furnaces and air conditioners for the past few years. The OPA Heating and Cooling incentive program is open to Ontario residents who upgrade their systems.

4. City Of Toronto’s HELP Loan Program

The City of Toronto wants to help you invest in energy efficiency upgrades for your home. You’ll be able to borrow money at an extremely low-interest rate to pay for improvements that qualify. You can have up to 15 years to repay the loan, and you can even pay back early without a penalty.

You’ll be able to use your loan for new, energy-efficient heating and cooling equipment like high-efficiency furnaces, boilers, central air conditioners, water heaters and HRVs (heat recovery ventilators).
Not all neighbourhoods in Toronto qualify yet, but there are many that do. You can find out all about the process and what’s covered on the HELP site.